the pro, page-7

re: announcement Pro, Trevor was very guarded in what he was saying. He emphasised the care the company was taking to keep all the information in house. The report has taken longer than they had hoped - they ended up doing most of it in house rather than using contractors, partly because of the difficulty in getting qualified staff, partly to keep it secret.

Trevor then lightened up and asked me if I'd had a good year, and became quite chatty. I told him that buying AED at 84¢ had made it a very good year, thank you very much! And hopefully there was a lot more to come this year.

IMO, the report is either unbelievably good, or atrocious, hence the extreme caution. I've talked to Trevor three or four times before and he has always been quite relaxed. This time he was careful. My feeling is that it will be good news: difficult to see how the last report could turn so sour, easy to see how it could indicate much more potential. And the market usually knows, in spite of all precautions!

As far as PB reviewing it, the role of a director on the board is very different to COO. Whilst he'll be aware of the gist of it, a detailed appraisal when he still has his day job, over the Xmas holidays (for all we know he is on annual leave now), would surely be quite onerous.

I'm holding. I'm not buying any more becasue AED is now a ridiculous proportion of my portfolio, and even though I reckon it is a $10 to $15 stock, there is a strong psychological barrier to paying $4.70 for something that initially cost 84¢!